GBP/USD Analysis: Selling Pressure Intensifies
The Pound Sterling briefly climbed above $1.290 after data revealed a strong expansion in UK private sector activity in July.
USD/JPY Analysis: Plunging to a 3-Month Low
Amid strong selling pressure, the USD/JPY currency pair has been on a downward trajectory throughout this week, reaching a support level of 152.14 at the time of writing
Gold Analysis: When to Buy Gold?
Gold prices failed to sustain their upward momentum yesterday, unable to breach the resistance level of $2432 per ounce.
Bank of Canada Lowers Interest Rates for a Second Consecutive Month
The Bank of Canada has cut rates by 25 basis points to 4.50%, but the Canadian dollar showed only a muted response to the rate cut.
EUR/USD Analysis: Nearing a Crucial Support Level
The EUR/USD has continued its decline, reaching a support level of 1.0825, falling short of its four-month high of 1.094 reached on July 17.